Apple makes the iPhone and became the first public company worth US$3 trillion.
Apple briefly reached a US$3 trillion market capitalization during intraday trading on June 30, 2023. The milestone came from the market value of Apple's outstanding shares and represented investor confidence in the iPhone ecosystem, services growth, and the company's financial strength.
The iPhone, introduced in 2007, combined a mobile telephone, an iPod-style music player, and an internet communicator in one touchscreen device. It helped transform Apple's business and created a large ecosystem of apps, accessories, subscriptions, and connected products.
Market capitalization is not a fixed measure of corporate wealth. It changes whenever Apple's share price changes, and it can rise or fall without the company issuing new products that day. The US$3 trillion figure therefore describes a market valuation at a particular trading moment, not cash in Apple's bank accounts.